TINC announces investments in renewables

TINC has invested in the development of the new off-shore wind farm Nobelwind, located in front of the coast of Zeebrugge, Belgium.

Nobelwind is a realisation of Parkwind and comprises 50 MHI Vestas turbines of each 3,3MW or a total capacity of 165 MW. TINC invests €3 million in a subordinated loan issued by Nobelwind NV, owner and operator of the off-shore wind farm, ranking senior to the equity. This investment is a co-investment with, amongst others, the unlisted infrastructure company DG Infra Yield and the shareholders of Nobelwind.

For TINC this is the third investment in the Belgian off-shore wind sector, after previous financings of the wind farms Belwind and Northwind.

TINC has also increased its participation in the existing portfolio company Solar Finance. This occurred together with a refinancing of the existing bank financing and represents an additional investment by TINC of appr. €4 million. TINC holds now 87% of the shares. Solar Finance holds and operates decentralised energy production units delivering power to industrial clients at 48 locations in Flanders.

Since the date of the initial public offering, TINC has invested appr. €25 million in existing and new portfolio companies, which represents appr. 2/3rd of the funding raised in the IPO and reserved for investments.